Private rental development aimed at the ‘millennial’ generation is set to add much-needed residential accommodation in Belfast city centre.
The £12million Exchange Street South development in the heart of Cathedral Quarter is Belfast's first ‘build to rent’ scheme. The proposed 19 storey Belfast development is aimed at young professionals under the age of 35 who are finding it increasingly difficult to get on the property ladder.
The development, which will contain approximately 120 apartments, will help to meet Belfast City Council’s ambition to increase city centre living and create 37,000 new homes by 2035.
Sam Tyler, Partner at FCBStudios said “Belfast and Northern Ireland produce highly talented, trained young people, but once they graduate, they leave. What we want to do is provide the kind of living environment that keeps them here.”
The plans have been welcomed by The Chartered Institute of Housing Northern Ireland and are currently undergoing public consultation with the aim of starting construction in summer 2018.